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Currency mismatch, uncertainty and debt maturity structure
Bussière, Matthieu - 2004
Persistent link: https://www.econbiz.de/10013434761
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Transparency, disclosure and the federal reserve
Ehrmann, Michael; Fratzscher, Marcel - 2005
indeed have improved transparency in the sense that information is now released to the markets at an earlier time and with …
Persistent link: https://www.econbiz.de/10011604503
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Monetary policy in the media
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006
Media coverage of monetary policy actions is a central channel of a central bank’s communication with the wider public, and thus an important factor for its credibility and policy effectiveness. This paper analyses the coverage which ECB monetary policy decisions receive in the print media,...
Persistent link: https://www.econbiz.de/10011604725
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Social value of public information: testing the limits to transparency
Ehrmann, Michael; Fratzscher, Marcel - 2007
Transparency has become an almost universal virtue among central banks. The paper tests empirically, for the case of … the Federal Reserve, two hypotheses about central bank transparency derived from the debate of Morris and Shin (2002) and …, but may reduce it when uncertainty is low. The findings underline the limits to transparency and stress the need for …
Persistent link: https://www.econbiz.de/10011604867
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Purdah: on the rationale for central bank silence around policy meetings
Ehrmann, Michael; Fratzscher, Marcel - 2008
. This practice is remarkable, as it seems to contradict the virtue of transparency by requiring central banks to withhold … the limits to central bank transparency. …
Persistent link: https://www.econbiz.de/10011604914
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The role of central bank transparency for guiding private sector forecasts
Ehrmann, Michael; Eijffinger, Sylvester; Fratzscher, Marcel - 2010
expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional … forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies. It … finds evidence for a significant and sizeable effect of central bank transparency on forecast dispersion, be it by means of …
Persistent link: https://www.econbiz.de/10011605192
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Monetary policy in the media
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2006
Media coverage of monetary policy actions is a central channel of a central bank’s communication with the wider public, and thus an important factor for its credibility and policy effectiveness. This paper analyses the coverage which ECB monetary policy decisions receive in the print media,...
Persistent link: https://www.econbiz.de/10005530962
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The role of central bank transparency for guiding private sector forecasts
Ehrmann, Michael; Eijffinger, Sylvester; Fratzscher, Marcel - European Central Bank - 2010
expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional … forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies. It … finds evidence for a significant and sizeable effect of central bank transparency on forecast dispersion, be it by means of …
Persistent link: https://www.econbiz.de/10008545908
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The role of central bank transparency for guiding private sector forecasts
Ehrmann, Michael; Eijffinger, Sylvester C W; … - C.E.P.R. Discussion Papers - 2009
expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional … forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies. It … finds evidence for a significant and sizeable effect of central bank transparency on forecast dispersion, be it by means of …
Persistent link: https://www.econbiz.de/10008458290
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Social value of public information: testing the limits to transparency
Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2007
Transparency has become an almost universal virtue among central banks. The paper tests empirically, for the case of … the Federal Reserve, two hypotheses about central bank transparency derived from the debate of Morris and Shin (2002) and …, but may reduce it when uncertainty is low. The findings underline the limits to transparency and stress the need for …
Persistent link: https://www.econbiz.de/10005227550